- The U.S. SEC sent Grayscale a comment letter saying the company is selling FIL, an unregistered security.
- Grayscale responded to the SEC explaining why FIL is not a security.
- FIL had an interesting reaction to the SEC’s comments.
The current crypto bear market is one of the industry’s toughest. And not only because digital asset prices remain suppressed.
Another reason for the severity of the bear market is the tough regulatory environment, especially in the U.S. For example, Grayscale just received a letter from the SEC implying that the fund sells unregistered securities.
SEC Thinks FIL Is Security
FIL, the largest decentralized storage protocol Filecoin’s native currency, is a security.
That’s at least what the U.S. Securities and Exchange Commission (SEC) thinks. On Wednesday, Grayscale, a digital asset manager, said it received a comment letter from the SEC claiming that the company is…
